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Please help ASAP! I will give thumbs up for correct answers! Required information [The following information applies to the questions displayed below. Wardell Company purchased
Please help ASAP! I will give thumbs up for correct answers!
Required information [The following information applies to the questions displayed below. Wardell Company purchased a mainframe on January 1, 2019, at a cost of $54,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $6,000. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $3,600. 2. Prepare the year-end journal entry for depreciation in 2021. Assume that the company uses the sum-of-the-years' - digits method instead of the straight-line method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) No Event Credit Answer is complete but not entirely correct. General Journal Debit Depreciation expense 6,933x Accumulated depreciationcomputer 1 1 6,933 XStep by Step Solution
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